SUMMARIZED FINANCIAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2012

Summarized Financial Information [Abstract]

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Condensed Consolidating Statement of Operations and Comprehensive Income
Three Months Ended March 31, 2012
	Parent			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net revenues	$	202,165		$	1,615,622		$	196,203		$	(77,534	)	$	1,936,456
Operating costs and expenses:
Cost of services	120,828			930,385			65,325			—			1,116,538
Selling, general and administrative	63,878			335,493			108,969			(7,699		)	500,641
Amortization of intangible assets	287			17,093			2,851			—			20,231
Royalty (income) expense	(108,061		)	108,061			—			—			—
Other operating income, net	(146		)	(266		)	(127		)	—			(539		)
Total operating costs and expenses	76,786			1,390,766			177,018			(7,699		)	1,636,871
Operating income	125,379			224,856			19,185			(69,835		)	299,585
Non-operating (expense) income, net	(42,396		)	(60,296		)	2,890			69,835			(29,967		)
Income from continuing operations before taxes	82,983			164,560			22,075			—			269,618
Income tax expense	31,562			64,388			5,427			—			101,377
Income from continuing operations	51,421			100,172			16,648			—			168,241
Income from discontinued operations, net of taxes	—			274			—			—			274
Equity earnings from subsidiaries	107,697			—			—			(107,697		)	—
Net income	159,118			100,446			16,648			(107,697		)	168,515
Less: Net income attributable to noncontrolling interests	—			—			9,397			—			9,397
Net income attributable to Quest Diagnostics	$	159,118		$	100,446		$	7,251		$	(107,697	)	$	159,118
Net income	$	159,118		$	100,446		$	16,648		$	(107,697	)	$	168,515
Other comprehensive income, net of tax	411			—			18,216			—			18,627
Comprehensive income	159,529			100,446			34,864			(107,697		)	187,142
Less: Comprehensive income attributable to noncontrolling interests	—			—			9,397			—			9,397
Comprehensive income attributable to Quest Diagnostics	$	159,529		$	100,446		$	25,467		$	(107,697	)	$	177,745

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
Three Months Ended March 31, 2011
	Parent			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net revenues	$	198,489		$	1,503,344		$	191,287		$	(71,543	)	$	1,821,577
Operating costs and expenses:
Cost of services	123,591			907,390			66,017			—			1,096,998
Selling, general and administrative	38,436			311,729			105,053			(7,360		)	447,858
Amortization of intangible assets	163			8,149			1,537			—			9,849
Royalty (income) expense	(102,356		)	102,356			—			—			—
Other operating expense (income), net	236,278			(214		)	(152		)	—			235,912
Total operating costs and expenses	296,112			1,329,410			172,455			(7,360		)	1,790,617
Operating income (loss)	(97,623		)	173,934			18,832			(64,183		)	30,960
Non-operating (expense) income, net	(38,420		)	(57,154		)	3,369			64,183			(28,022		)
Income (loss) from continuing operations before taxes	(136,043		)	116,780			22,201			—			2,938
Income tax (benefit) expense	(3,614		)	46,165			6,675			—			49,226
Income (loss) from continuing operations	(132,429		)	70,615			15,526			—			(46,288		)
Loss from discontinued operations, net of taxes	—			(374		)	—			—			(374		)
Equity earnings from subsidiaries	78,568			—			—			(78,568		)	—
Net income (loss)	(53,861		)	70,241			15,526			(78,568		)	(46,662		)
Less: Net income attributable to noncontrolling interests	—			—			7,199			—			7,199
Net income (loss) attributable to Quest Diagnostics	$	(53,861	)	$	70,241		$	8,327		$	(78,568	)	$	(53,861	)
Net income (loss)	$	(53,861	)	$	70,241		$	15,526		$	(78,568	)	$	(46,662	)
Other comprehensive income (loss), net of tax	(2,921		)	—			24,504			—			21,583
Comprehensive income (loss)	(56,782		)	70,241			40,030			(78,568		)	(25,079		)
Less: Comprehensive income attributable to noncontrolling interests	—			—			7,199			—			7,199
Comprehensive income (loss) attributable to Quest Diagnostics	$	(56,782	)	$	70,241		$	32,831		$	(78,568	)	$	(32,278	)

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet
March 31, 2012
	Parent			Subsidiary Guarantors		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	69,585		$	10,885	$	64,969		$	—		$	145,439
Accounts receivable, net	13,135			154,586		806,167			—			973,888
Other current assets	99,391			215,049		86,006			(1,169		)	399,277
Total current assets	182,111			380,520		957,142			(1,169		)	1,518,604
Property, plant and equipment, net	159,936			577,264		44,227			—			781,427
Goodwill and intangible assets, net	154,913			6,261,035		460,640			—			6,876,588
Intercompany (payable) receivable	(749,903		)	919,256		(169,353		)	—			—
Investment in subsidiaries	8,082,783			—		—			(8,082,783		)	—
Other assets	297,581			40,275		50,368			(113,399		)	274,825
Total assets	$	8,127,421		$	8,178,350	$	1,343,024		$	(8,197,351	)	$	9,451,444
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses	$	761,802		$	173,515	$	36,944		$	(1,169	)	$	971,092
Short-term borrowings and current portion of long-term debt	281,451			7,263		265,642			—			554,356
Total current liabilities	1,043,253			180,778		302,586			(1,169		)	1,525,448
Long-term debt	3,020,304			17,243		327,710			—			3,365,257
Other liabilities	194,571			530,659		52,851			(113,399		)	664,682
Stockholders’ equity:
Quest Diagnostics stockholders’ equity	3,869,293			7,449,670		633,113			(8,082,783		)	3,869,293
Noncontrolling interests	—			—		26,764			—			26,764
Total stockholders’ equity	3,869,293			7,449,670		659,877			(8,082,783		)	3,896,057
Total liabilities and stockholders’ equity	$	8,127,421		$	8,178,350	$	1,343,024		$	(8,197,351	)	$	9,451,444

Condensed Consolidating Balance Sheet
December 31, 2011
	Parent			Subsidiary Guarantors		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	71,762		$	44,053	$	49,071		$	—		$	164,886
Accounts receivable, net	10,846			178,813		716,796			—			906,455
Other current assets	51,292			188,978		91,686			(2,037		)	329,919
Total current assets	133,900			411,844		857,553			(2,037		)	1,401,260
Property, plant and equipment, net	164,785			591,962		43,024			—			799,771
Goodwill and intangible assets, net	155,596			6,228,611		447,170			—			6,831,377
Intercompany (payable) receivable	(566,071		)	819,486		(253,415		)	—			—
Investment in subsidiaries	7,963,131			—		—			(7,963,131		)	—
Other assets	318,944			39,965		48,580			(126,518		)	280,971
Total assets	$	8,170,285		$	8,091,868	$	1,142,912		$	(8,091,686	)	$	9,313,379
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses	$	694,846		$	172,207	$	41,748		$	(2,037	)	$	906,764
Short-term borrowings and current portion of long-term debt	561,438			7,327		85,630			—			654,395
Total current liabilities	1,256,284			179,534		127,378			(2,037		)	1,561,159
Long-term debt	3,026,235			18,606		325,681			—			3,370,522
Other liabilities	194,894			544,504		53,819			(126,518		)	666,699
Stockholders’ equity:
Quest Diagnostics stockholders’ equity	3,692,872			7,349,224		613,907			(7,963,131		)	3,692,872
Noncontrolling interests	—			—		22,127			—			22,127
Total stockholders’ equity	3,692,872			7,349,224		636,034			(7,963,131		)	3,714,999
Total liabilities and stockholders’ equity	$	8,170,285		$	8,091,868	$	1,142,912		$	(8,091,686	)	$	9,313,379

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2012
	Parent			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income	$	159,118		$	100,446		$	16,648		$	(107,697	)	$	168,515
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	9,867			56,863			5,444			—			72,174
Provision for doubtful accounts	1,271			9,831			69,616			—			80,718
Other, net	(88,603		)	(24,858		)	6,900			107,697			1,136
Changes in operating assets and liabilities	14,934			(20,734		)	(155,476		)	—			(161,276		)
Net cash provided by (used in) operating activities	96,587			121,548			(56,868		)	—			161,267
Net cash provided by (used in) investing activities	171,990			(73,540		)	(1,414		)	(180,279		)	(83,243		)
Net cash (used in) provided by financing activities	(270,754		)	(81,176		)	74,180			180,279			(97,471		)
Net change in cash and cash equivalents	(2,177		)	(33,168		)	15,898			—			(19,447		)
Cash and cash equivalents, beginning of period	71,762			44,053			49,071			—			164,886
Cash and cash equivalents, end of period	$	69,585		$	10,885		$	64,969		$	—		$	145,439
Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2011
	Parent			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income (loss)	$	(53,861	)	$	70,241		$	15,526		$	(78,568	)	$	(46,662	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	11,335			47,997			4,033			—			63,365
Provision for doubtful accounts	1,418			14,046			61,912			—			77,376
Provision for special charge	236,000			—			—			—			236,000
Other, net	(107,207		)	8,351			(739		)	78,568			(21,027		)
Changes in operating assets and liabilities	38,251			(40,044		)	(146,679		)	—			(148,472		)
Net cash provided by (used in) operating activities	125,936			100,591			(65,947		)	—			160,580
Net cash used in investing activities	(12,603		)	(27,920		)	(2,076		)	1,846			(40,753		)
Net cash provided by (used in) financing activities	431,146			(67,994		)	63,808			(1,846		)	425,114
Net change in cash and cash equivalents	544,479			4,677			(4,215		)	—			544,941
Cash and cash equivalents, beginning of period	392,525			928			55,848			—			449,301
Cash and cash equivalents, end of period	$	937,004		$	5,605		$	51,633		$	—		$	994,242